Shares of Worldpay Inc. surged Monday on news of a $35 billion merger deal for the Symmes Township-based payment-processing company.

Jacksonville, Fla.-based Fidelity National Information Services announced Monday that it has agreed to buy Worldpay in a cash-and-stock deal that would create a payment-processing giant with operations across the globe.

Fidelity National has also agreed to assume Worldpay's debt, which would bring the total value of the deal to $43 billion, according to a press release.

The combined company would compete in a wide range of payment businesses, including e-commerce, faster payments and core processing, generating annual revenue of about $12.3 billion.

That could create another new Fortune 500 company with ties to the Cincinnati area.

Under terms of the deal, Fidelity National would own about 53 percent of the company, while Worldpay shareholders would control 47 percent.

The combined company's headquarters would move to Jacksonville.

Worldpay officials declined to comment on the whether the mergerwould result in job cuts for its more than 8,000 employees or result in consolidation of its Ohio operations in Florida.

The company did not respond when asked how many people it employs locally.

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Vantiv's plans to purchase Worldpay reveals the value in payments stocks Square SQ and PayPal . JPMorgan Chase also reportedly made an offer for Worldpay.
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Fidelity National already employs about 47,000 people worldwide

"We expect that Cincinnati will continue to be a strategic location for the combined company,'' Worldpay spokesman Andrew Ciafardini said in an email.

According to both companies, Worldpay shareholders would receive 0.9287 Fidelity National shares and $11.00 in cash for each share of Worldpay.

Worldpay shares closed Monday at a new 52-week high of $108.51, up about 10 percent, or $9.83 a share.

Worldpay was formed when Symmes Township-based Vantiv acquired then London-based Worldpay in 2018 for $10.4 billion and adopted its name to capture the combined company's enlarged scope, The Enquirer reported.

Worldpay's latest merger is expected to accelerate the combined company's expansion into new countries, generating projected revenue growth of 6 percent to 9 percent through 2021, according to both companies.

“At Worldpay, our focus has always been on delivering more value to our clients and partners and making decisions that achieve our growth and performance objectives,'' said former Vantiv CEO Charles Drucker, now executive chairman and chief executive officer at Worldpay. "Combining with (Fidelity National) helps us accelerate the achievement of that.''

Pending regulatory approval, the Worldpay-Fidelity National deal is expected to close in the second half of this year.

The deal is just the latest in a recent wave consolidation in the payment-processing industry as companies combine to capture a larger share of the growing number of transactions completed online.

Gary Norcross, Fidelity National's chairman and chief executive, acknowledged in a conference call with analysts Monday that the company's bid for Worldpay was a strategic move.

"This is purely a strategic combination,” Norcross told analysts. "We can’t speak to what other combinations are occurring in the industry. We want to make sure we have scale to compete not only now but in the future.”

The New York Stock Exchange welcomes Vantiv and Worldpay, Inc. (NYSE: WP), who are celebrating their recent merger. Chairman and Co-CEO Charles Drucker, joined by Jim Byrne, Head of U.S.Listings at NYSE, rings The Closing Bell®.(Photo: Provided)